Cold weather, threat of war send US oil prices soaring

WASHINGTON (AP) - Prices for heating oil and gasoline are soaring and likely to keep U.S. rising as energy markets cope with a colder than expected winter, the loss of Venezuela's production and worries about war with Iraq. 

A deep freeze in the northeastern United States caused heating oil prices to spike by 20 percent last week. The Energy Department, citing low stocks Monday - as well as higher natural gas prices - said heating bills could be 50 percent higher this year than last winter.